South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
KFC and Pizza Hut have stopped operating in Russia after its parent company, Yum Brands, announced it will close its restaurants there. It was stated that 70 locations of its fried chicken brand would be shut.
Russia is said to be a key market for Yum Brands, but due to the war in Ukraine, which was initiated by Vladimir Putin, it decided to put off all investments and development in the country. The move may hurt KFC as it was able to achieve record development in 2021 with help from the Russian market.
Reuters reported KFC’s 70 stores are confirmed to close, and for Pizza Hut, the agreement for suspension of its operations is still being finalized. An agreement is needed with the brand’s local master franchisee since Yum does not have much control over the restaurants they own. Once completed, it will be shutting 50 Pizza Hut outlets in the region.
Yum Brands owns at least 1,000 KFC stores in Russia, while almost all the Pizza Huts are owned by independent franchisees. Since the start of this week, the restaurant company has already discontinued all developments in its Russian fast-food outlets.
As mentioned in the Daily Mail Yum Brands’ action is in response to Putin’s invasion of Ukraine. It has now joined the growing list of US-based companies that are withdrawing from the country.
The fast-food firm is also donating $1 million worth of profits from its Russian operations to humanitarian efforts. Yum Brands Foundation will be forwarding the fund to the Red Cross to support people affected by the ongoing crisis in Ukraine. Aside from the Red Cross, the Yum! Disaster Relief Fund will give to other charities, including UNICEF, International Rescue Committee, and the World Food Programme.
“This action builds on our decision to suspend all investment and restaurant development in Russia and redirect all profits from operations in Russia to humanitarian efforts,” Yum Brands said in a statement. “As always, we remain focused on the safety of our people in the region and will continue to support our teams in Ukraine while evaluating the ways Yum! Brands can make a positive impact in the region.”
